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BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2014
BUSINESS SEGMENTS
BUSINESS SEGMENTS
We are principally engaged in growing and harvesting timber; manufacturing, distributing and selling forest products; and developing real estate and building single-family homes. Our principal business segments are:
•
Timberlands – which includes logs; timber; minerals, oil and gas; and international wood products;
•
Wood Products – which includes softwood lumber, engineered lumber, structural panels and building materials distribution;
•
Cellulose Fibers – which includes pulp, liquid packaging board and an equity interest in a newsprint joint venture; and
•
Real Estate – which includes real estate development and single-family home building operations.
An analysis and reconciliation of our business segment information to the respective information in the Consolidated Financial Statements is as follows:
 
QUARTER ENDED
DOLLAR AMOUNTS IN MILLIONS
MARCH 2014
 
MARCH 2013
Sales to unaffiliated customers:
 
 
 
Timberlands
$
377

 
$
293

Wood Products
898

 
988

Cellulose Fibers
461

 
474

Real Estate
248

 
196

 
1,984

 
1,951

Intersegment sales:
 
 
 
Timberlands
238

 
224

Wood Products
19

 
18

 
257

 
242

Total sales
2,241


2,193

Intersegment eliminations
(257
)
 
(242
)
Total
$
1,984

 
$
1,951

Net contribution to earnings:
 
 
 
Timberlands
$
164

 
$
104

Wood Products
64

 
178

Cellulose Fibers
54

 
31

Real Estate
12

 
—

 
294

 
313

Unallocated Items(1)
39

 
(46
)
Net contribution to earnings
333

 
267

Interest expense, net of capitalized interest
(83
)
 
(82
)
Income before income taxes
250

 
185

Income taxes
(56
)
 
(41
)
Net earnings
194

 
144

Dividends on preference shares
(11
)
 
—

Net earnings attributable to Weyerhaeuser common shareholders
$
183

 
$
144


(1)
Unallocated Items are gains or charges not related to or allocated to an individual operating segment. They include a portion of items such as: share-based compensation, pension and postretirement costs, foreign exchange transaction gains and losses associated with outstanding borrowings and the elimination of intersegment profit in inventory and the LIFO reserve.